Home Mortgage Crisis
on this page:
Recent Announcements Mortgage Problemsrelated consumer topics:
Home Buying Home Repairs Mortgage Fraud Mortgagesconsumer alerts:
Mortgage Payoff Scammers Mortgage Foreclosure "Rescue" Phony Contractor Offers to "Seal" Roof Phony Real Estate Agents Steal Buyers' Cash Reverse Mortgage OffersA home is often the biggest single investment in a consumer's lifetime. This is why it is very important that consumers are fully informed of their rights and responsibilities as homeowners.
Below are several useful links to information about the Office of the Attorney General's actions on behalf of Texas homeowners and resources for homeowners who seek assistance in buying a home or who are having trouble keeping up with their mortgage payments.
Recent Announcements
Attorney General Abbott Urges At Risk Homeowners To Contact Lenders, Counselors
AUSTIN - Texas Attorney General Greg Abbott today encouraged homeowners who are struggling with monthly mortgage payments to contact their lenders and loan servicing companies... <more>
11-12-07
Attorney General Abbott Takes Legal Action Against Foreclosure Rescue Firm's Unlawful Texas Operations
HOUSTON - Texas Attorney General Greg Abbott today obtained a temporary restraining order and asset freeze against an unlawful Texas-based ...<more>
10-24-2007
Attorney General Abbott Urges Top Lenders, Loan Servicers to Address Growing Housing Crisis
AUSTIN - Texas Attorney General Greg Abbott proposed a series of foreclosure prevention measures to four home mortgage lending and residential ...<more>
11-6-2007
Attorney General Abbott Halts Foreclosure Rescue Scam's Unlawful Texas Operations
SAN ANTONIO - The 408th District Court has issued a temporary injunction against a Florida-based "foreclosure rescue" scheme. Under the ...<more>
10-19-2007
Attorney General Abbott Reaches $21 Million Settlement Benefitting Victims of Predatory Mortgage Lending
EL PASO - Texas Attorney General Greg Abbott today announced that Texas homeowners who were harmed by Ameriquest Mortgage Co.'s deceptive ...<more>
7-12-2007
Court Shuts Down Austin Real Estate Scam; Orders Defendant to Pay $1.4 Million
AUSTIN - An enforcement action brought by Texas Attorney General Greg Abbott has shut down an Austin real estate scam that targeted Hispanic ...<more>
5-18-2007
Mortgage Problems
If you have fallen behind on your mortgage or know that you will soon face problems keeping up with monthly payments, the worst thing you can do is nothing. Get immediate help.
You might first consider calling your lender or servicing agent and ask to speak with their loss mitigation department to find out if you are eligible to renegotiate terms of your loan, including a forbearance (temporarily suspending payments, to be repaid later or bundled into the remaining balance of your loan) or perhaps even changing the interest rate that you pay.
Whether or not a consumer can renegotiate a loan with their lender is determined by many factors, including how soon you call.
Consumers can also get assistance in dealing with their lender by contacting a local non-profit counselor approved by the Department of Housing and Urban Development (HUD).
To contact HUD's referral hotline call:
View a directory of HUD-approved counseling services in Texas.
Consumers can also get help by calling counselors with the Homeowner's Hope Prevention Hotline, sponsored by NeighborWorks and the Home Ownership Preservation Foundation.
www.995Hope.com.
